Exploring the Diverse Landscape of the Encryption World: From Core Developers to Scammers

Cryptocurrency remains a field filled with scams and schemes for many people. However, some believe it represents a new frontier full of opportunities that can break the monopoly of traditional financial institutions. So why does this divergence occur? Why are people still interested in cryptocurrency? This article will explain this phenomenon through the "concentric circles of the crypto industry" model, helping readers better understand the different groups within the crypto world.

encryption concentric circle model

This model simplifies the encryption industry into four concentric circles:

1. Core developer ( innermost circle )
2. Encryption Evangelist
3. encryption scammer
4. External World ( Outermost Circle )

Core Developers: The Soul of the Industry

The core developers at the center are the cornerstone of this industry. They have a deep understanding of the issues the current world faces and how blockchain technology can address these problems. They lay the philosophical and technical foundations for the future of encryption.

In this circle, you will find Bitcoin's anonymous founder Satoshi Nakamoto, as well as Ethereum's founder Vitalik Buterin. Vitalik is regarded as a "digital monk", proficient in encryption, philosophy, and mathematics. Despite his wealth, he lives a simple life, traveling with just a backpack.

Core developers often do not receive the recognition and rewards they deserve. However, they persist in their mission, tirelessly working to create a better future. They are the purists of the encryption world, attracting others to join this field.

encryption believers: loyal followers

The second layer is encryption believers. They are the most loyal followers of this new world, believing in the future that core developers are building.

This circle includes not only ordinary users but also application developers, DAO members, and companies that build products and services around encryption protocols. They are the "settlers" of the encryption world, pioneering innovation on this new digital frontier.

Encryption believers are building a new financial system, managing their own assets, and creating new digital identities. They live and work in an open and free metaverse, adhering to the principles of open source software and openness.

Representatives in this group include:

• Rune Christensen: Seeing the demand for a decentralized dollar, he founded MakerDAO.
• Hayden Adams: Developed Uniswap on his own, creating a public asset exchange system.
• Cami Russo: Experienced Argentina's inflation firsthand, founded the encryption media The Defiant.
• Anthony Sassano: Creates videos daily, reporting on the latest developments in the Ethereum ecosystem.

These encryption enthusiasts help spread the industry's advancements, as core developers often focus on technical development and are not good at self-marketing. They joined this industry because they believe that cryptocurrency can create a better and freer world.

encryption scams: the dark side of the industry

Between the encryption believers and the outside world, there exists a group of encryption scammers. They hinder the outside from understanding the true pioneers and innovations of this industry.

Scammers are skilled in self-promotion, using a polarized strategy. They come to this field purely for profit. They are the main reason for the bad reputation of cryptocurrencies, as they are more high-profile than ordinary practitioners.

They do not care about the technology itself, only about how to make money from it. They deliberately design malicious products to deceive newcomers. Their projects often seem glamorous, but in reality, they are meaningless and will inevitably collapse in the end.

Some notorious encryption scammers include:

• Alex Mashinsky: Operating a traditional bank under the banner of DeFi ultimately leads to customer fund losses.
• Daniele Sesta: Founded the ultimately collapsed Wonderland ecosystem
• Do Kwon: Founder of Terra/Luna, responsible for the largest capital loss in the history of encryption.

These scammers often have fervent followers who promote heavily on social media, drowning out rational voices.

How to deal with scammers?

Due to the open nature of cryptocurrencies, we cannot completely prevent the emergence of scammers. This is the price of decentralization and permissionless access.

However, we can combat them through education. The industry needs to engage the public better before the scammers do, to help people understand the nature of encryption. Over time, people will gradually develop an intuition for recognizing scams, just as we can now identify spam on the internet.

The encryption world is a complex ecosystem, comprising idealists, innovators, and speculators. Understanding the essence of this industry requires us to see beyond the surface and recognize the true forces driving it forward.